Nigerian billionaire businessman Aliko Dangote has urged wealthy Nigerians to invest more of their money in productive businesses rather than spending tens of millions of dollars on private jets.
Dangote, reflecting on his journey as a businessman, revealed that he acquired his first private jet at the age of 22 and a half.
Despite his wealth and access to private aviation, the billionaire said he has reached a point where he is comfortable travelling on commercial flights.
“In my career as a businessman, I had great times. I was telling somebody that right now, I don’t mind. I can take commercial, I can take anything. I had my first private jet at 22 years and a half,” he said.
Dangote said his concern is not with wealth itself, but with how wealthy individuals choose to deploy their resources, particularly at a time when Nigeria needs more productive investments.
He encouraged Nigerians who can afford aircraft worth $90 million or $100 million to consider putting such money into businesses that can create jobs, generate economic activity and contribute to national development.
“So I try as much as possible to encourage people who are riding 90, 100 million dollars aircraft, please go and put that into business. We are not going to create a great nation without doing something productive,” he said.
He recalled an experience in Abuja that further shaped his view. Dangote said he once spent about 30 minutes searching for a parking space, only to realise that the area had numerous private jets.
The experience, he said, made him wish the space was instead occupied by factories producing goods and creating opportunities.
“It took me 30 minutes to find a parking space in Abuja. It was Wednesday or Thursday. And I said, ‘Oh, I wish this place was full of factories, not private jets,’” he recalled.
Dangote’s comments highlight his broader argument that personal wealth should also translate into productive investment, particularly in industries capable of creating employment and strengthening the economy.
